EBRD Invests EUR12.8M To Improve Water Services In Galati County

05.24.2012 By Florentina Dragu

The European Bank for Reconstruction and Development on Thursday said it has extended a EUR55.5 million loan to water utility company APA Canal SA Galati to improve water services in Galati county, east Romania.

The loan will co-fund an EU-approved investment program of RON551.7 million (approximately EUR127 million) designed to improve the quality of existing water services in Galati in line with the relevant EU directives, EBRD said in a statement.

"With this important investment, the EBRD is continuing to play a key role in providing finance for the modernization of Romania's water sector. This new investment signed today will help bring the operations of SC APA Canal SA Galati in line with EU environmental standards and ensure quality water supply and sanitation services to its customers," said Jean-Patrick Marquet, EBRD Director for Municipal and Environmental Infrastructure.

A EUR200 million Regional EU Cohesion Fund Co-financing Framework was launched in 2010 to support important investments in Romania's water and wastewater infrastructure, helping local water utilities to bring their services up to EU environmental standards.

To date the framework has mobilized more than EUR1 billion of EU funding in Romania's water and wastewater facilities, EBRD said.
Since the beginning of its operations in Romania, the EBRD has invested over EUR5.7 billion in more than 300 projects in various sectors of the country's economy.